Emperor Entertainment posts net profit of US$$1.5m for H1

Gaming revenue was up 700 per cent at HK$215.6m (US$27.6m) for the first six months of the year.

Macau.- Emperor Entertainment Hotel has shared its financial results for the first half of the year. It posted a net profit of HK$12m (US$1.5m), compared to a HK$190.9m (US$24.4m) loss in the same period of last year. Revenue rose by 242.5 per cent year-on-year to HK$371.8m (US$47.6m).

Gaming revenue was up 784.4 per cent year-on-year at HK$371.8m (US$27.6m). Hotels and serviced apartments grew by 85.5 per cent to HK$156.2m (US$20m). Adjusted segmental earnings before interest, taxation, depreciation, and amortisation were HK$81.1m, an improvement from negative HK$105.7m last year.

The group attributed the turnaround to the resurgence in visitor arrivals after the reopening of borders between Hong Kong and Macau. Emperor Entertainment Hotel manages a portfolio of hotels and serviced apartments in Hong Kong and Macau: The Emperor Hotel, The Unit Serviced Apartment, Grand Emperor Hotel, and Inn Hotel Macau.

An indirect wholly-owned subsidiary of Emperor Entertainment has a three-year contract with SJM. The terms cover a range of services, including sales, promotion, publicity, management and customer development at the Grand Emperor Hotel.

In 2022, Emperor Entertainment reported that revenue was down 30 per cent year-on-year to HK$291m (US$37.2m). Gaming revenue was down 66.3 per cent to HK$87.7m (US$11.2m).